Finding The Best Pot Stock To Invest In
Are you looking for different ways to invest in the best marijuana stocks to buy right now? From the current market value, most of the cannabis sector is predicted by analysts to see future upside in 2021. After starting the year climbing higher in the market after peaking in February most top cannabis stocks saw a steep decline that has lasted for several months.
One area of pot stocks that have seen the most volatility this year is Canadian marijuana stocks. In the first-quarter rally, the Canadian cannabis sector saw the most upside during the rally. But after establishing new highs in February, they also experienced the steepest declines in the market. Another area of the cannabis sector that has seen extreme volatility in marijuana penny stocks. For those not familiar with penny stocks these are any stocks that trade under the $5 stock price. This area of the market is considered high risk but has also delivered some significant returns for short-term investors.
From current levels, both areas of pot stocks could produce future gains for shareholders. One catalyst that could ignite the cannabis sector in the coming months is US cannabis reform. Currently, many lawmakers are pushing for some form of change to federal policy on cannabis. Recently in Congress, US House Judiciary Chair Jerry Nadler reintroduced the MORE Act a bill focused on social justice and cannabis legalization.
US Marijuana Stocks And American Cannabis Legalization
Another Senate Majority leader Chuck Schumer has also said he has been working closely with other lawmakers to introduce a more comprehensive cannabis reform bill. In any case, this shows the strong possibility we may see some form of improvement on federal cannabis prohibition. So far in 2021, it seems reform has been the primary driver for top marijuana stocks.
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With this on the horizon, it may be time to find top cannabis stocks for your watchlist this week. For investors, it’s always important to research a company and find the best entry point for your investment. As it stands the Canadian cannabis sector could see significant upside with the arrival of reform. And top marijuana penny stocks represent an area of the cannabis sector where experienced investors can achieve short-term gains trading higher-risk stocks. With this in mind, let’s look at 2 top marijuana stocks to add to your list in July.
Marijuana Stocks To Watch In July:
- Tilray, Inc. (NASDAQ:TLRY)
- Red White & Bloom Brands Inc. (OTC:RWBYF)
Tilray, Inc.
Tilray, Inc. is a leading global cannabis consumer packaged goods company with operations in Canada, the US, Europe, Australia, and Latin America. Recently, in one of the biggest M&As in Canada, Tilray merged with Aphria Inc. to become one of the largest revenues producing Canadian cannabis companies in the world. Unfortunately, much like all the rest of the Canadian cannabis companies Tilray missed its earnings estimates and took a significant hit in market value following February highs. But Tilray is positioning itself to enter the US market and is also expanding its international presence.
In July the company completed its first harvest and delivery of medical cannabis grown in Germany. This marks the first is the first cultivated at Tilray’s state-of-the-art 6000 square meters grow facility in Germany. Additionally, the company has also established CBD products and infused beverages that could be large revenue producers across the Canadian and American markets. Currently trading much lower than its February highs TLRY stock could see some upside this summer.
TLRY stock closed at $16.24 on July 12th up 96.61% year to date. In February TLRY stock reached a high of $67.00 and has currently increased by 102.75% for its 1-year performance. According to analysts at CNN Business TLRY stock has a 12-month average price target of $17.50 per share. This would represent an increase of 7.83% from its current trading price. For this reason, TLRY could be the best Canadian cannabis stock to buy this summer.
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Red White & Bloom Brands Inc.
At the present time, Red White & Bloom Brands Inc. is positioning itself to be one of the top MSOs in the US market. The company is expanding rapidly in the legal cannabis and hemp markets across the country. RWB has retail locations in US markets like Michigan, Illinois, Massachusetts, Arizona, Florida, and California. Recently the company made the acquisition of all Florida operations from Acreage Holdings Inc. (OTC: ACRHF). As a result of this acquisition, RWB will have 8 retail stores in prime locations in Florida, a 114,000 SQ. foot facility for cultivation, and a 400 Sq. foot office building.
The company provided operating highlights for Q4 2020 and Q1 2021 for shareholders. In detail, the company produced adjusted sales of $32.2 million in Q1 2021. Also, RWB produced adjusted sales of $31.4 million in Q4 2020. RWB will report its fiscal full-year 2020 financials on July 22nd after the close. In addition, the company will report its fiscal first-quarter 2021 results on July 26th after the close.
RWBYF stock closed on July 12th at $0.99 up 65.48% year to date. In February RWBYF stock reached a high of $1.65 and gained 8.79% in the past 5 trading days. According to analysts at Wallet Investor RWBYF stock has a 1-year forecast of $1.584 per share. This forecast would represent an increase of 60% from its last trading level. With this in mind, RWBYF stock could be a top marijuana penny stock to add to your watchlist right now.
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